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Hellen, Inc. is a calendar-year corporation. Its financial statements for the years 2015 and 2014 contained errors as follows: 2015 2014 Ending inventory $6,000 overstated

Hellen, Inc. is a calendar-year corporation. Its financial statements for the years 2015 and 2014 contained errors as follows:

2015 2014

Ending inventory $6,000 overstated $16,000 overstated

Depreciation expense $4,000 understated $12,000 overstated

Assume that the proper correcting entries were made at December 31, 2014. By how much will 2015 income before taxes be overstated or understated?

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